OKB is the prime utility token issued by the OK Blockchain Foundation. With OKB tokens, users can get trading discounts of up to 40%, passive income, and the opportunity to participate in high-quality blockchain projects. The OkexChain blockchain network also plans to introduce more tokens after the main net launch. The current supply of OKB tokens stands at 300 million. It recently burned approximately 2 million tokens. Let us look at the technical analysis of OKB.
<h2><b>Past Performance</b></h2>
On Jul 20, 2021, OKB opened at $10.17. On Jul 26, 2021, OKB closed at $15.92. Thus, <a href="https://www.cryptoknowmics.com/news/okb-technical-analysis-trading-at-1096upswing-looks-apparent/">in the past week</a>, the price has increased by roughly 57%. In the last 24 hours, OKB has traded between $14.95-$16.45.

<img class="shrinkToFit" src="https://s3.tradingview.com/snapshots/5/577ZSw3B.png" alt="https://s3.tradingview.com/snapshots/5/577ZSw3B.png" width="1359" height="643" />

<a href="https://s3.tradingview.com/snapshots/5/577ZSw3B.png">https://s3.tradingview.com/snapshots/5/577ZSw3B.png</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Currently, OKB is trading at $15.87. The price has decreased from the day’s opening price of $15.92. Thus, the market seems bearish.

The <strong>MACD and signal lines</strong> are positive. Thus, the overall market momentum is bullish. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, we can expect an intermittent price pullback amidst an overall positive trend.

Currently, the <strong>RSI indicator</strong> is at 52%. It faced rejection at 50% and rose to the current level. Hence, buying pressures are mounting. High buying activity will exert upward pressure on the OKB price.

However, the <strong>OBV indicator</strong> is upward sloping. Thus, buying volumes are higher than selling volumes. Hence, the price may rise further.

In short, the <strong>OBV and RSI indicators</strong> have given positive signals, while the MACD indicator has given mixed signals. Thus, we have to wait and watch if the bulls overpower the market or the bears regain strength.
<h2><b>OKB Technical Analysis</b></h2>
Currently, the price is above the <strong>Fibonacci pivot point</strong> of $15.77. The price may soon surpass the <strong>first Fibonacci pivot resistance level</strong> of $16.35. After that, we have to wait and watch if the price rises further or falls again.

The price has tested and breached the <strong>38.2% FIB retracement level</strong> of $15.88. It may further break out of the<strong> 23.6% FIB retracement level</strong> of $16.10 as well. If by day end, the price retests and falls below these levels, the price downtrend is strong enough to sustain till tomorrow.

OKB Technical Analysis: Price Above the Fibonacci Pivot Point of $15.77

OKB tested and breached the 38.2% FIB retracement level of $15.88. It may further break out of the 23.6% FIB retracement level of $16.10 as well. If by day end, the price retests and falls below these levels, the price downtrend is strong enough to sustain till tomorrow.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

OKB Technical Analysis: Price Above the Fibonacci Pivot Point of $15.77

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